Will the regulatory approval timeline create any constraints or risks for the execution of the program?

The regulatory hurdle for Bogota Financial Corp.’s sixth repurchase program has already been cleared – the company announced on 12 August 2025 that the SEC‑style approval to buy back up to 237,590 shares (≈ 5 % of the float) is in place. Because the approval is granted ahead of the actual execution window, the timeline itself does not impose a near‑term constraint; the board can now move as quickly as market conditions allow, subject only to the internal “buy‑back window” and any applicable “no‑trade‑during‑certain‑periods” rules (e.g., Rule 10b‑18 safe‑harbor limits on price, volume and timing).

The primary risk therefore shifts from a regulatory‑timing issue to execution‑risk: the 5 % cap limits the total amount that can be removed, so the program could be front‑loaded if the stock trades near its current level, leaving little upside for a prolonged impact. Liquidity in the BSBK shares, daily price‑fluctuation limits, and the need to stay within the 30‑day “black‑out” window (if any) could also constrain the pace of purchases. From a trading perspective, the approval removes a major uncertainty and should act as a short‑term catalyst, likely providing modest price support and a modest upside bias. However, monitor daily volume and any price‑movement restrictions; if the bank’s shares trade at a discount to intrinsic value, the repurchase could be accelerated, creating buying pressure, whereas a tightly‑priced market may force the company to stretch the program over the full window, diluting the immediate impact.